ARTICLE
27 February 2024

Empowerment Of The State Revenue Committee

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GRATA International

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GRATA International is a dynamically developing international law firm which provides services for projects in the countries of the former Soviet Union and Eastern Europe. More than 28 years 250 professionals in 19 countries advise major international and local firms. GRATA is recognised by Chambers & Partners, Legal 500, IFLR1000, WWL, Asialaw Profiles. GRATA is recognised by Chambers & Partners, Legal 500, IFLR1000, WWL, Asialaw Profiles.
From 2024, the State Revenue Committee of the Ministry of Finance of Kazakhstan is authorized to conduct currency control alongside the National Bank of Kazakhstan.
Kazakhstan Finance and Banking
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From 2024, the State Revenue Committee of the Ministry of Finance of Kazakhstan is authorized to conduct currency control alongside the National Bank of Kazakhstan.

From now on, the State Revenue Committee and its territorial subdivisions will monitor repatriation of currency on export-import operations. In this regard, the state revenue authorities will:

  • track violations;
  • conduct inspections and apply other measures of currency control;
  • hold individuals accountable for violations in currency repatriation;
  • ensure timely provision of information and documents regarding currency operations, including sharing data with law enforcement agencies.

As of today, state revenue authorities use the National Bank's information system for conducting currency control. However, there are plans to develop a separate information system specifically for them.

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ARTICLE
27 February 2024

Empowerment Of The State Revenue Committee

Kazakhstan Finance and Banking

Contributor

GRATA International is a dynamically developing international law firm which provides services for projects in the countries of the former Soviet Union and Eastern Europe. More than 28 years 250 professionals in 19 countries advise major international and local firms. GRATA is recognised by Chambers & Partners, Legal 500, IFLR1000, WWL, Asialaw Profiles. GRATA is recognised by Chambers & Partners, Legal 500, IFLR1000, WWL, Asialaw Profiles.
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